Category: Business & Markets

California Bank Regulator Admits Fault in Silicon Valley Bank Failure

California’s bank regulator stated in a new report that it was too slow to address the growing risks and issues at Silicon Valley Bank (SVB) and failed to push the troubled lender to fix its problems. The California Department of Financial Protection and Innovation (DFPI) published a comprehensive review of what happened with SVB, admitting…


Vaccine Maker Announces 25 Percent Layoffs as Pandemic Worries Subside

COVID-19 vaccine maker Novavax has announced that it will lay off a quarter of its employees as the company faces “substantial challenges” this year amid the easing of the pandemic. Novavax is focusing on “significantly reducing” its expenses while maintaining critical capabilities that are necessary to execute the company’s operating plans, the firm said in…


Debt Default Could Occur in Early June, Think Tank Warns, as Biden, McCarthy Standoff Continues

The Bipartisan Policy Center (BPC) reported that the U.S. government would likely default on its payment obligations sometime between early June and early August if changes aren’t made. The group’s May 2023 debt-limit analysis report, which was released on May 9, cited pressure from a decline in tax revenue as the support for their conclusion…


GB News Interview With Naomi Wolf Deemed ‘Potentially Harmful’ By UK Media Regulator

GB News has been sanctioned by Ofcom for the second time after the UK’s media regulator found that an interview with Naomi Wolf on the “Mark Steyn” show breached broadcasting rules. On Tuesday, an Ofcom investigation into the “Mark Steyn” programme, which first aired on GB News on Oct. 4, 2022, ruled Wolf’s “comments had…


[Premiering 7:30PM ET] Asra Nomani on the ‘Unholy Alliance’ Between the Woke Left and the Islamist Right That Is Destabilizing America

“He came to visit a home that I was renting in Karachi, and he went off for an interview. And he never came back. The man whom he was supposed to interview had set a trap for Danny. It was actually a kidnapping scheme. And Danny was never to be seen again.” In 2002, Wall…


Fox News CEO Says There’s ‘No Change’ After Tucker Carlson Exit

Fox Corporation CEO Lachlan Murdoch said there will be no change in the firm’s strategy after the surprise exit of its top-rated host Tucker Carlson two weeks ago. When asked during an earnings call on Tuesday about whether the network would shift its programming after Carslon’s departure, Murdoch responded: “There is no change to our programming…


Fed Warns of Credit-Crunch Risk Leading to ‘Marked Slowdown’ in Economic Activity

The recent banking sector turmoil has caused lenders to tighten borrowing standards, squeezing the supply of credit to households and businesses, potentially threatening economic growth, according to a report from the Federal Reserve. The Fed’s quarterly Senior Loan Officer Opinion (SLOOS) survey, released Monday, showed that U.S. credit conditions continued tightening in the first months…


US Crypto Exchange Bittrex Seeks Bankruptcy After SEC Complaint

Cryptocurrency exchange Bittrex filed for bankruptcy protection three weeks after the Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange for years. On May 8, the crypto firm made the filing in a Wilmington, Delaware, court after announcing in March that it would wind down operations in the United States by the…


Public Confidence in Fed Chair Jerome Powell Is at Record Low, Gallup Reports

The American people are losing confidence in Federal Reserve Chair Jerome Powell’s leadership as the U.S. economy grapples with crushing inflation and a slowing economic landscape, a new survey revealed. According to new polling data from Gallup, 36 percent of U.S. adults say they have a “great deal” or a “fair amount” of confidence that…


Public Confidence in Fed Chair Jerome Powell Is at Record Low

The American people are losing confidence in Federal Reserve Chair Jerome Powell’s leadership as the U.S. economy grapples with crushing inflation and a slowing economic landscape, a new survey revealed. According to new polling data from Gallup, 36 percent of U.S. adults say they have a “great deal” or a “fair amount” of confidence that…